You can watch the livestream of the announcements here on What's Trending and also follow our live tweets about the event on our @whatstrending account.

Here are some of the rumored and confirmed announcements that you'll hear starting 10 AM PT / 1 PM ET.

- Sean Parker, who owns seven percent of Facebook, is only partially happy with the new changes to your News Feed. He separated the difference between subscriptions and friending, and hinted that there's a lot more to come with today's announcement. He did these through a series of status updates on -- where else? -- his Facebook page.

- Mashable claims that today's announcement will change the world of social media and will be the biggest development since the company launched. The key to all the new implementations is bringing emotion back into the social network so your friends will know you better than ever.

- NFC Technologies (short-distance wilress technology) is reportedly going to be involved in some of the announcements today, according to Gigaom.

- According to Techcrunch, we may finally see that iPad app and the potential "iTunes Kkiller" with Facebook's new music platform. And, the rumored "Project Spartan" -- for lack of a better name -- is supposedly ready to go. The entirely HTML-5 based platform will optimize the Facebook experience on mobile.

- Wired claims that one of the new apps will be a new social news reading application with the Washington Post and other media outlets. You won't have to go to partner sites to read content: All of it will be housed in Facebook, making it easier to share and comment on articles with your friends.